Does this accurately portray the reason for the economic crisis in the USA and the world?

It explains it to a tee.

Bush tried to fix the problem but there was no way the Dems would let that happen!

More people should see this and they would understand why the Dems are so eager for a bailout. I hope all of this comes to light in the federal probe going on. The dems will have some explaining to do.

The facts are all there people just follow the instructions in the video. Facts are hard to dispute.

EDIT: The first lawsuit against a bank for not lending to risky loaners set the tone and precedent for every bank to follow.

The bill opened a Pandora's box on this issue. It was intended to do one thing but in reality did something entirely different.

Not at all. Anyone who think it accurately describes the situation doesn't have a fair understanding of the situation.

Senator Byron Dorgan explained it pretty well on Cspan2 last night.

it also shows the person making it has no clue what the Community Reinvestment Act did. They probably never even read it.

All it did was make it unlawful for mortgage companies to discriminate who got loans based on their locations, allowing them to reserve loans for the wealth only. It never forced people to make bad loans, nor make loans to people without documenting their income...exactly as mentioned above.

The right trying to blame this act for it, is nothing but a scapegoat trying to avoid blaming the corporations that chose to make the bad loans, and whoever is responsible for lower interest rates and and deficit spending causing the value of the dollar to fall.

Guess what happens when the value of the dollar falls!

Oil costs more USD. Grains and every other world traded commodity costs more USD.

This means food and energy prices shoot up, and now lower income people who could have afforded their loans no longer can.

Anyone mentioning this 5 years ago was denounced as Doom and Gloom libs.

Do a search for ZOOM CREDIT.

Then you'lll realize a big portion of the problem, which no law required loan companies to say "bad credit ok!"

Nope it is highly inaccurate, and nothing but a poorly made piece of propaganda created by the misinformed to guide the misinformed.

risky mortgages were only a very small piece of the puzzle and nobody forced the banks to make loand to people without proving they could repay them.

Fannie Mae had regulations those regulations were violated because regulators where probably being bribed like they were in the late 80s.

The FBI will find that out I'm sure.

No, but this does:

http://english.ohmynews.com/articleview/article_vi...

Oh, so you're saying that a video on youtube that references wikipedia (an open encyclopedia) is not biased at all compared to an international news article?

Its a big part of the root cause.. they big thing they left out was the bundling of the subprime mortgages into securities and the distribution of them all throughout the world.... That is the end game of everything in the video link.

lol i dont see how people can deny that when there are no lies in there..just facts.

you really want to try and call that a news article jay?

opinion is opinion.. not news..

Yes. I wish more people would watch this vid!

Lame republican lie, as usual. Twist the facts and tell half of the truth - bingo - democrats to blame ... for 8 years of republicans in in power..

Bingo! That is what happened.